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  • Mortgages & Finance

    Releasing equity

    hi,

    l am wanting to release equity of about 25K equity to build a small kitchen extension.

    I have one property owned outright worth about 85K, currently Tenanted.

    A second property worth about 85k, currently Tenanted.

    My residential property worth about 140K with a 25K mortgage.

    I have been considering the following options as to viability and best value and would welcome advice and the cheapest way to raise the cash.

    1. Lifetime mortgage but want to pay off the interest each month so it doesn’t compound.

    2. Raise the 20K on a BTL mortgage on the unencumbered property.

    3. Raise the 20K on my current property on a repayment loan.

    4. Products to have no early repayment fees.

    Thank you

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    0

    Hello there,

    Lots of options to consider, but also the need to take into account personal circumstances.

    If you'd like to get in contact, we can discuss a few personal details and conduct some research.

    As a CeRER qualified broker I can also consider Lifetime Mortgages.


    1
    0

    You can contact me via Direct Message, or 07788 219647 or call the team on 01206 654444 for personalised quote and advice